What budget-allowance do you give your college kid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$0. We pay for tuition, room & board, books. They pay for anything else. I think that’s more than fair.

Same

If you need spending money, get a part time job

Ditto. They have summer jobs for spending money.

This is us too, the caveat is that if they landed a really good internship that did not pay, we would give them some spending money (but so far they have always found paying internships).

[Anonymous]

We pay tuition and fees, room and board, and textbooks, plus $100/month into their checking account for incidentals. If they exceed that or want to travel, go to a concert, shopping spree, etc., it comes out of their savings/part-time income.

[Anonymous]

We pay everything and trust him with a credit card, with which he has been very responsible. When in college, I wished that I did not have to juggle my studying with a Sunday part time job, which turned out to be very taxing, especially around exam time.

[Anonymous]

No budget. They have a credit card in our name but it’s never been abused (in DC #3 in college now).

[Anonymous]

My kids cover incidentals from summer jobs gifts etc. We did give them extra generous bday gits over the summer when their summer jobs disappeared with the pandemic.

[Anonymous]

The reality is our kids will never have to work a day in their lives. But they don't know that yet, and we wanted to teach them to budget and strive. So ExDH and I agreed - their tuition, room and board, books and meal plans were paid for. Then they got $80 a month for extras. We traded off sending a care package once a month with snacks. This way they had all the money they needed, but if they wanted to go out to eat, or something, they had to save a bit.

[Anonymous]

My older child is a senior in college and we've paid her tuition, room, board, car, phone but she has made her own money for everything else. She likes to work so she got a part time job during the school year and refused to give it up even when she was stressed with her thesis. Her grades are good so I'm not worried but I told her she didn't need to stress so much. She has about $10K in her bank account for savings and I know she wants to keep building it up even while in school.

She does have a credit card under us that she can use as needed but she doesn't really use it much. She recently bought new tires for her car and asked if she could. Otherwise I never see her using it.

My younger daughter will be a college freshman next year and she's quick to use our Amex so I'll need to watch that a bit more. She is also a hard worker and started her own business and likes to make her own money so I think it will be fine in the long run. She'll get the same support as her older sister and I hope she won't abuse it!

[Anonymous]

+1 on covering tuition, room and board and books. Everything else is on DS - he loved his college job, learned some good money management skills.